G2TT
来源类型Discussion paper
规范类型论文
来源IDDP7696
DP7696 Intermediated Trade
Pol Antras; Arnaud Costinot
发表日期2010-02-14
出版年2010
语种英语
摘要This paper develops a simple model of international trade with intermediation. We consider an economy with two islands and two types of agents, farmers and traders. Farmers can produce two goods, but in order to sell these goods in centralized (Walrasian) markets, they need to be matched with a trader, and this entails costly search. In the absence of search frictions, our model reduces to a standard Ricardian model of trade. We use this simple model to contrast the implications of changes in the integration of Walrasian markets, which allow traders from different islands to exchange their goods, and changes in the access to these Walrasian markets, which allow farmers to trade with traders from different islands. We find that intermediation always magnifies the gains from trade under the former type of integration, but leads to more nuanced welfare results under the latter, including the possibility of aggregate losses. These welfare losses may be circumvented, however, through policies that discriminate against foreign traders in a way that minimizes the margins charged by domestic traders.
主题Development Economics ; International Trade and Regional Economics
关键词Economic integration Gains from trade Intermediation Search frictions
URLhttps://cepr.org/publications/dp7696
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/536533
推荐引用方式
GB/T 7714
Pol Antras,Arnaud Costinot. DP7696 Intermediated Trade. 2010.
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